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•Nine Greatest Selling Innovations 11

the bank’s ability to access information and obtain good prices for customers in
practically any area. Users of the service can make enquiries of the bank on any
topic. Researchers will find any product or service on which information is requested,
from holiday and travel information to ideas for birthdays and Christmas gifts.

For the future, First Direct depends on the continuing trend for people to work
longer and have less, and therefore more valued, leisure time. This, plus flexibility
in work hours and working practices, means that people will be more and more
under pressure. First Direct sees this as the driver of its long-term philosophy.

Another revolution in banking practices lies behind the customer interface, and
that is the requirement for a totally different type of human resource management
with an emphasis on the attractiveness of the workplace.

First Direct currently employs around 3600 people based at three sites – two in
Leeds and one in Hamilton, Glasgow. The Banking Representatives (BRs) are the
people who first answer the customers’ calls, and from them the customer forms the
first impression of First Direct. They are organised in a network of teams and there
are forums for staff to meet and discuss suggestions and changes. The workplace has
to encourage the 24-hour working of predominately female staff, so security, safety,
childcare as well as sports and social facilities are an important part of the plan.

However good and efficient telephone banking is, there is still opportunity for
the high-street banks to sell to their customers, but the queues at lunchtime for
‘personal’ bankers, who do not know the customers from a bar of soap, must en-
courage people to wonder if there is not another way.

If First Direct stands still of course it will rapidly be replaced by other banks
coming through. This is particularly true with Internet banking. This offers pretty
much all the facilities of a banking hall on your PC in your office or home. You can
pay your bills, move money around and so on, once again at any time of the day or
month. The banks also reflect the cost-effectiveness of the Internet approach by
offering better deals on the Internet. Long-term Internet savings can be as much as
4% higher in their interest rate than their best high-street alternative, and often offer
instant access and no penalties as well. Today, for example, you can get 4% on a